Doctor, my accounting is a mess. What do I do?

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While Sigmund Freud would look for a deeper meaning into why your accounting is a mess, I can tell you that this is not uncommon in business and that you don’t need a prescription to fix this malady.

All too often, business owners get busy doing what they do best: creating, manufacturing, selling, anything other than accounting.

So, what should you do? It’s very simple, you need to make it one of your priorities and learn to appreciate what your accounting can do for you.

I often ask my clients if they were planning a car trip across the United States what would be the first thing they would do. Of course, the  usual response is that they would get their oil changed and rotate their tires. After we finish chuckling, we usually get around to getting a map and planning their route.

Continuing on with the map metaphor, your starting point is where your business is today and it is best represented by your financial statements. Your destination is represented by your short and long-term goals, projections and budgets. 

All of these tools depend on having clean, up-to-date accounting.

And, with these tools, you can improve your profitability, your cash flow and sleep better at night!

In the next few articles, I will delve a bit more deeply into how to get started cleaning up your accounting.

 

Stephen Hartfield, CPA

 

 

 

 

So, what should you do? It’s very simple, you need to make it one of your priorities and learn to appreciate what your accounting can do for you.

I often ask my clients if they were planning a car trip across the United States what would be the first thing they would do. Of course, the  usual response is that they would get their oil changed and rotate their tires. After we finish chuckling, we usually get around to getting a map and planning their route.

Continuing on with the map metaphor, your starting point is where your business is today and it is best represented by your financial statements. Your destination is represented by your short and long-term goals, projections and budgets. 

All of these tools depend on having clean, up-to-date accounting.

And, with these tools, you can improve your profitability, your cash flow and sleep better at night!

In the next few articles, I will delve a bit more deeply into how to get started cleaning up your accounting.

 

Stephen Hartfield, CPA

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